EU court cuts ADM cartel fine by 10.3 mln euros

LUXEMBOURG, July 9 (Reuters) - Europe's highest court on Thursday reduced by 10.29 million euros ($14.3 million) a fine slapped on U.S. food processing company Archer Daniels Midland (ADM.N) for its role in a citric acid cartel.

The European Court of Justice cut the fine to 29.4 million euros from 39.69 million euros, saying the firm had been unfairly classified as a leader of the cartel.

The European Commission had judged Archer Daniels and four other companies in 2001 to have taken part in the cartel. The EU executive fined all five, with ADM drawing the second-highest penalty for what the Commission called its leading role.

The company appealed against the Commission's decision at the lower Court of First Instance but the move was dismissed in part, prompting an appeal at Europe's highest court.

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